2016/10/13 1:20 AM
It appears the US Securities and Exchanges Commission (SEC) needs more time to examine the Winklevoss brothers’ Bitcoin exchange-traded fund (ETF). A filing released today announced further proceedings to approve or disapprove a necessary rule change on the Bats BZX Exchange.
Also read: Bitcoin Uncensored Exposed: Chris DeRose Definitely a CIA Shill
Commodity Rule Change Required
The exchange’s Rule 14.11(e)(4), regarding commodity-based trust shares, needs to be amended before a cryptocurrency-based ETF may list.
The Winklevoss’ ETF, which they first announced three years ago, has faced repeated regulatory hurdles. They initially spent two years trying to list it on the Nasdaq, before turning to Bats in mid-2016.
After the initial application in June, the SEC set a 45-day period for comments. It received six — most infamously one from Bitcoin critic Jorge Stolfi in July. The Brazilian computer science academic…